Goods and Services Tax – Started By: – MohanLal tiwari – Dated:- 29-5-2017 Last Replied Date:- 2-6-2017 – GST is payable on advances received from customers, what is provision for GST where part payment (5% or 10%) is payable after three / six months of receipt & acceptance of goods and balance 10% or 20% payment after successful installation & commissioning or performance of equipment. – Reply By Rajagopalan Ranganathan – The Reply = Sir, According to Section 31 (5) of CGST Act, 2017- Subject to the provisions of clause (d) of sub-section (3), in case of continuous supply of services,- (a) where the due date of payment is ascertainable from the contract, the invoice shall be issued on or before the due date of payment; (b) where t
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he Reply = Mr Rajgopalan Sir, Your reply to above query is for services Subject to the provisions of clause (d) of sub-section (3), in case of continuous supply of services, whereas in our case, we are supplying goods (machinery parts) and payment terms is say – 10% advance against ABG after order acceptance, 70% against receipt of mtls by consignee, 10% against PBG after 6 months of receipt of goods, balance & final 10% against PBG after successful installation and trial of equipment. In the sub-section 4 & 5 of the Rule also not applies correctly as it is not continuous supply. – Reply By Rajagopalan Ranganathan – The Reply = Sir, As per proviso to Section 31 (1) of CGST Act, 2017 the Government may, on the recommendations of the
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